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Project Management - Essay Example

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PROJECT MANAGEMENT Scenario 1: Tasks : 1)Create a weighted scoring model that managers could use to help evaluate candidates for the project manager position. Make up at least five criteria for evaluating the project managers, four potential candidates, and scores for the candidates…
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Project Management
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Project Management

Download file to see previous pages... 8.8 2)Although senior management does not want a business case for proceeding with this project, they would like to know what some of the potential financial benefits could be from this project. Write a one- to two-page paper describing several potential financial benefits that could result from providing this system. Any technology based resource management system comes with several degrees of financial benefits that are essential to the success of any organization or company involved. Most managers have however not readily identified these benefits, which are financial because they are often embedded in other benefits that are non-fiscal. This means that the financial benefits of technology based management systems are not extrinsic but highly intrinsic (WWF, 2000). The financial benefits are always the result of the key characteristics of the systems. Three of these characteristics are known to be multi-functional, effectiveness and efficiency. The technology based resource management system is said to be multi-functional because it can play several roles at a time. Unlike the orthodox system of creating different portfolios for different employees, a single system could be used to play about three to five at a time (World Conservation Union M&E Initiative, 2009). There could for instance be one system that combines the roles of recruitment, placement, orientation, salary grading and pension scheming, all at a time. In such a situation, the company benefits extensively because the amount of money that would have been spent on each of the portfolios is spared and saved in the coffers of the company. Subsequently, these monies serve as capital for starting other money making activities so as to raise and generate incomes for the company. In the case of the present system, it is even possible to advance the functions of the system so that in the nearest future, there could be several roles integrated into its work. As far as effectiveness is concerned, reference is being made to the fact that the technology based resource management systems are useful in generating financial returns and financial benefits by ensuring very high levels of perfection in service delivery. There is no denying the fact that no machine is 100% effective. However, studies show that most contemporary systems that have been introduced in the project management system to take care of resource management actually outweigh human perfection for close to 30% (World Conservation Union M&E Initiative, 2009 ). This means that there is a wider range of quality and perfection guarantee on the use of the technology based system as compared to using human effort. Invariably, the amount of money that would have been spent on legal litigations and other forms of inaccuracy corrections and remediation would be channeled into other profit making ventures within the organization. The effectiveness of the system is therefore another guarantee that the system is highly beneficial in terms of finances. Finally, the efficiency of the system cannot be underestimated in any way, and as ...Download file to see next pagesRead More
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